Supervising international banks — resolution solutions
Following on from its ‘Approach to Banking Supervision’ paper of April 2013, the Prudential Regulation Authority (PRA) has given some further colour on how it intends to supervise international banks operating in the UK.
While the PRA’s consultation paper (CP4/14) gives clarity to institutions looking to set up branches in the UK, at the same time existing branches, particularly those conducting retail business in the UK, will need to make sure they fall into line with the PRA’s approach.
The PRA clearly expects branches, including those already operating in the UK, to confirm to certain standards or face additional requirements including reforming as a subsidiary…
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